Earnings summaries and quarterly performance for Cigna.
Executive leadership at Cigna.
David Cordani
Detailed
Chief Executive Officer
CEO
BE
Brian Evanko
Detailed
Executive Vice President, Chief Financial Officer, and President and Chief Executive Officer, Cigna Healthcare
DB
David Brailer
Detailed
Executive Vice President and Chief Health Officer
NJ
Nicole Jones
Detailed
Executive Vice President, Chief Administrative Officer, and General Counsel
NE
Noelle Eder
Detailed
Executive Vice President, Global Chief Information Officer
Board of directors at Cigna.
DZ
Donna Zarcone
Detailed
Director
EG
Elder Granger
Detailed
Director
EF
Eric Foss
Detailed
Director
EW
Eric Wiseman
Detailed
Lead Independent Director
GK
George Kurian
Detailed
Director
KM
Kathleen Mazzarella
Detailed
Director
KR
Kimberly Ross
Detailed
Director
MM
Mark McClellan
Detailed
Director
MH
Michael Hennigan
Detailed
Director
NH
Neesha Hathi
Detailed
Director
PO
Philip Ozuah
Detailed
Director
Research analysts who have asked questions during Cigna earnings calls.
Andrew Mok
Barclays
7 questions for CI
Also covers: ACHC, ADUS, AGL +21 more
EW
Erin Wright
Morgan Stanley
7 questions for CI
Also covers: ALGN, BTSG, CAH +18 more
JL
Justin Lake
Wolfe Research, LLC
7 questions for CI
Also covers: AGL, CNC, CVS +8 more
LG
Lisa Gill
JPMorgan Chase & Co.
7 questions for CI
Also covers: AGL, CAH, COR +13 more
CR
Charles Rhyee
TD Cowen
6 questions for CI
Also covers: AMWL, BTSG, CAH +18 more
SF
Scott Fidel
Stephens Inc.
5 questions for CI
Also covers: ACHC, ADUS, ALHC +17 more
Jason Cassorla
Guggenheim Partners
4 questions for CI
Also covers: ACHC, ARDT, CYH +8 more
Joshua Raskin
Nephron Research
4 questions for CI
Also covers: AIRS, BKD, CNC +13 more
KF
Kevin Fischbeck
Bank of America
4 questions for CI
Also covers: AMN, ARDT, CCRN +9 more
AR
A.J. Rice
UBS Group AG
3 questions for CI
Also covers: ACHC, AMED, AMN +21 more
AR
Albert Rice
UBS
3 questions for CI
Also covers: ACHC, AMED, AMN +20 more
George Hill
Deutsche Bank
3 questions for CI
Also covers: AGL, CAH, CNC +16 more
Stephen Baxter
Wells Fargo & Company
3 questions for CI
Also covers: AGL, BTSG, CAH +15 more
Adam Ron
Bank of America Corporation
2 questions for CI
Also covers: AGL, ALHC, CNC +3 more
AH
Ann Hynes
Mizuho Financial Group
2 questions for CI
Also covers: ARDT, BTSG, CNC +17 more
AR
Andrew Rice
UBS
1 question for CI
Benjamin Hendrix
RBC Capital Markets
1 question for CI
Also covers: ACHC, ADUS, AHCO +25 more
LW
Lance Wilkes
Sanford C. Bernstein & Co., LLC
1 question for CI
Also covers: AGL, CNC, ELV +4 more
MH
Michael Hop
Baird
1 question for CI
RL
Ryan Langston
TD Cowen
1 question for CI
Also covers: ACHC, ADUS, AGL +15 more
Sarah James
Cantor Fitzgerald
1 question for CI
Also covers: ACHC, AMED, CNC +15 more
Recent press releases and 8-K filings for CI.
Cigna beats Q4 EPS expectations but issues conservative 2026 guidance
CI
Earnings
Guidance Update
- Cigna delivered adjusted EPS of $8.08 vs. $7.88 expected and revenue of $72.4 billion (+10.4% YoY), topping FactSet estimates.
- GAAP results showed net income of $1.234 billion and EPS of $4.64, both down year-over-year.
- For fiscal 2026, Cigna guided to adjusted EPS of at least $30.25 and revenue near $280 billion, below analysts’ forecasts, and forecast a medical cost ratio of 83.7%–84.7%.
- Cantor Fitzgerald warned of Medicare Advantage rate risks after a 0.09% CMS advance notice, while Mizuho raised its 12-month price target to $325, citing decelerating utilization trends.
1 day ago
The Cigna Group reports Q4 and full-year 2025 results
CI
Earnings
Guidance Update
Legal Proceedings
- The Cigna Group delivered full-year 2025 adjusted revenue of $275 billion (+11%) and adjusted EPS of $29.84 (+9%), and in Q4 recorded $483 million of after-tax special charges (-$1.82/share).
- Announced a global settlement with the FTC on its pharmacy benefits business, providing $7 billion of out-of-pocket cost relief over 10 years for 100 million customers, enhancing insulin and brand-drug affordability and increasing transparency under a new fee-based PBM model.
- Returned over $5 billion to shareholders in 2025 via dividends and share repurchases, and set a 2026 adjusted EPS outlook of at least $30.25, backed by stable PBM margins and continued strategic investments.
- Pharmacy Benefit Services retained >97% of clients for 2026 and expects its margin profile to remain similar under the transparent, no-rebate model; moving its GPO back to the U.S. may raise the effective tax rate by up to 1% if unmitigated.
1 day ago
Cigna reports Q4 2025 results
CI
Earnings
Guidance Update
Share Buyback
- Full-year 2025: Adjusted revenue $275 B (+11%) and adjusted EPS $29.84 (+9%); $7 B in out-of-pocket relief over 10 years via FTC settlement for 100 M customers.
- Q4 segment performance: Evernorth revenue $63.1 B (pre-tax adj. earnings $2.2 B); specialty & care services $26.7 B rev (+14%), $1 B earnings; PBM rev $36.3 B, $1.2 B earnings; Cigna Healthcare revenue $11.2 B, pre-tax adj. earnings $734 M; MCR ~60 bps above plan.
- 2026 guidance: Consolidated revenue ~$280 B; adjusted EPS ≥$30.25; Evernorth earnings ≥$6.9 B; Cigna Healthcare earnings ≥$4.5 B; Q1 ~25% of full-year EPS; end-year medical members ~18.1 M; tax rate ~19%.
- Capital outlook: 2025 operating cash flow $9.6 B; 2025 buybacks $3.6 B and dividends $1.6 B; end-2025 debt-to-capital ~43%; in 2026 expect $9 B cash flow, $1.3 B CapEx, $1.6 B dividends; shares ~261–265 M.
1 day ago
Cigna reports Q4 2025 results and 2026 outlook
CI
Earnings
Guidance Update
Legal Proceedings
- Strong 2025 financials: delivered full-year adjusted revenue of $275 billion (+11%) and adjusted EPS of $29.84 (+9%); returned over $5 billion to shareholders through dividends and share repurchases.
- FTC settlement and PBM model: reached global settlement resolving all FTC pharmacy benefits matters, including a 10-year, $7 billion out-of-pocket cost relief program for 100 million customers, and launched a rebate-free, transparent pharmacy benefits model.
- 2026 guidance: expects consolidated adjusted EPS of at least $30.25; segment targets include Evernorth adjusted earnings ≥ $6.9 billion and Cigna Healthcare ≥ $4.5 billion.
- Capital and cash flow priorities: generated $9.6 billion of 2025 operating cash flow; repurchased 11.9 million shares for $3.6 billion and paid $1.6 billion in dividends; 2026 outlook calls for $9 billion cash flow, $1.3 billion capex, $1.6 billion dividends and progress toward a 40% debt-to-capital ratio.
1 day ago
Cigna Group reports Q4 and full year 2025 results
CI
Earnings
Guidance Update
Dividends
- Total revenues for 2025 rose 11% to $274.9 billion, with Q4 revenues of $72.5 billion, up 10% year-over-year.
- 2025 shareholders’ net income was $6.0 billion ( $22.18 per share); Q4 net income was $1.2 billion ( $4.64 per share).
- 2025 adjusted income from operations reached $8.0 billion ( $29.84 per share); Q4 adjusted operations income was $2.15 billion ( $8.08 per share).
- The Board increased the quarterly dividend to $1.56 per share and Cigna repurchased 11.9 million shares (~$3.6 billion) in 2025.
- For 2026, Cigna projects adjusted revenues of approximately $280 billion and adjusted income from operations of at least $7.95 billion ( $30.25 per share).
1 day ago
Cigna reports strong Q4 and full-year 2025 results, raises dividend and issues 2026 outlook
CI
Earnings
Guidance Update
Dividends
- Full-year 2025 revenues rose 11% to $274.9 B; shareholders’ net income was $6.0 B ( $22.18/share) and adjusted income from operations was $8.0 B ( $29.84/share).
- In Q4 2025, total revenues of $72.5 B (+10%) delivered shareholders’ net income of $1.2 B ( $4.64/share) and adjusted income from operations of $2.1 B ( $8.08/share).
- 2026 outlook: adjusted revenues of ~$280 B and adjusted income from operations of at least $7.95 B ( $30.25/share).
- The board increased the quarterly dividend to $1.56 per share (from $1.51).
1 day ago
Cigna agrees to FTC settlement on Express Scripts drug pricing
CI
Legal Proceedings
- FTC settlement requires Express Scripts to eliminate spread pricing, decouple rebates and fees from list prices, relocate its GPO Ascent to the U.S., and undergo 10 years of FTC monitoring.
- From 2027, Express Scripts must adopt a cost-plus reimbursement model for independent pharmacies (three or fewer), to cover acquisition, dispensing, and monitoring costs with reasonable profit.
- The agreement addresses alleged anticompetitive PBM practices that inflated drug prices and harmed independent pharmacies, as highlighted by NCPA leadership.
2 days ago
Cigna expands coverage for AI-enabled coronary plaque analysis
CI
- Cigna, alongside Aetna, UnitedHealthcare, and Humana, now covers AI-based coronary plaque analysis under the new Category I CPT code 75577, effective January 1, 2026.
- This coverage extends access to tens of millions of commercially insured patients for AI-enabled quantitative plaque assessment.
- The permanent CPT code 75577 enables nationally valued reimbursement for AI‐driven quantification and characterization of coronary atherosclerotic plaque from CCTA in outpatient and imaging settings.
- In December 2025, the AMA/ACC issued guidance recommending quantitative coronary plaque analysis to enhance risk assessment and guide preventive therapy in patients with visual plaque evidence on CTA.
Jan 20, 2026, 1:00 PM
Health Care Service Corporation credit ratings affirmed by AM Best
CI
- AM Best affirmed the Financial Strength Rating of A+ (Superior) and Long-Term Issuer Credit Rating of aa- (Superior) for HCSC Group, and A (Excellent) and a (Excellent) for HCSC Medicare & Supplemental Group, all with a stable outlook.
- Ratings reflect HCSC Group’s strongest balance sheet, adequate operating performance amid 2025 challenges, and strong risk-adjusted capitalization (BCAR), supported by robust liquidity and a $1.25 billion revolving credit facility plus over $2.0 billion FHLB borrowing capacity.
- HCSC’s statutory financial leverage rose to just under 20% after new debt issuances in 2024 and 2025 but remains within acceptable ranges; invested assets are predominantly investment grade fixed income securities.
- The Q1 2025 acquisition of Cigna’s Medicare and CareAllies businesses expanded geographic diversification, membership, and revenue growth with a limited impact on balance sheet strength.
- HCSC Medicare & Supplemental Group maintains a very strong balance sheet, modest underwriting leverage of 3.6x, and projects BCAR at the strongest level at year-end 2025, supported by parent capital commitments and integrated ERM.
Jan 15, 2026, 6:50 PM
Cigna details transition to rebate-free PBM model
CI
Guidance Update
New Projects/Investments
- Reaffirmed full-year EPS guidance of at least $29.60, underscoring strong operational execution amid market challenges
- Launched a transformative rebate-free PBM model delivering upfront drug discounts, a flat administrative fee delinked from drug prices, and pharmacy reimbursements at acquisition cost plus dispense fee
- Rollout schedule set for fully insured Cigna Healthcare clients in 2027 and the broader Express Scripts book in 2028, with manufacturer recontracting ongoing
- Investing equally in 2026–2027 across technology, process/operations optimization, client and manufacturer recontracting, and data analytics to support the dual-track model; investment spend to dissipate in 2028
- Proactively extended contracts with Centene, Prime Therapeutics, and the DOD—totaling $90 billion in revenues—through the end of the decade to ensure volume stability
Nov 12, 2025, 4:00 PM
Quarterly earnings call transcripts for Cigna.
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